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A CoBank report says excess US ethanol capacity and weaker demand will force the industry to restructure, with weaker operators likely to exit through consolidation or closures. Brazil has gained global ethanol export share on a weak currency and cheap sugar.
Co-products such as distillers grains supplied about 40 million metric tons in 2019.
Expected plant closures would reduce corn grind and DDGS supply over time, but the report signals no immediate shift. Brazilian ethanol competition limits US export demand for corn-based ethanol and its co-products.
allagnews.comTony St. JamesJun 23, 2020After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
